(a)There is hereby established in the Treasury of the United States a fund known as the Veterans Housing Benefit Program Fund (hereinafter in this section referred to as the “Fund”).
(b)The Fund shall be available to the Secretary, without fiscal year limitation, for all housing loan operations under this chapter, other than administrative expenses, consistent with the Federal Credit Reform Act of 1990.
(c)There shall be deposited into the Fund the following, which shall constitute the assets of the Fund:
(1)Any amount appropriated to the Fund.
(2)Amounts paid into the Fund under section
3729 of this title or any other provision of law or regulation established by the Secretary imposing fees on persons or other entities participating in the housing loan programs under this chapter.
(3)All other amounts received by the Secretary on or after October 1, 1998, incident to housing loan operations under this chapter, including—
(A)collections of principal and interest on housing loans made by the Secretary under this chapter;
(B)proceeds from the sale, rental, use, or other disposition of property acquired under this chapter;
(C)proceeds from the sale of loans pursuant to sections
3733(a)(3) of this title; and
(D)penalties collected pursuant to section
3710(g)(4)(B) of this title.
(d)Amounts deposited into the Fund under paragraphs (2) and (3) of subsection (c) shall be deposited in the appropriate financing or liquidating account of the Fund.
(e)For purposes of this section, the term “housing loan” shall not include a loan made pursuant to subchapter V of this chapter.
The Federal Credit Reform Act of 1990, referred to in subsec. (b), is title V of Pub. L. 93–344, as added by Pub. L. 101–508, title XIII, § 13201(a),Nov. 5, 1990, 104 Stat. 1388–609, which is classified generally to subchapter III (§ 661 et seq.) of chapter
17A of Title
2, The Congress. For complete classification of this Act to the Code, see Short Title note set out under section
621 of Title
2 and Tables.
2001—Subsec. (a). Pub. L. 107–14substituted “hereinafter” for “hereafter”.
Section effective Oct. 1, 1998, see section 602(f) ofPub. L. 105–368, set out as an Effective Date of 1998 Amendment note under section
2106 of this title.
Transfers of Amounts Into Veterans Housing Benefit Program Fund
Pub. L. 105–368, title VI, § 602(b),Nov. 11, 1998, 112 Stat. 3346, provided that: “All amounts in the following funds are hereby transferred to the Veterans Housing Benefit Program Fund:
“(1) The Direct Loan Revolving Fund, as such fund was continued under section
3723 of title
38, United States Code (as such section was in effect on the day before the effective date of this title [Nov. 11, 1998]).
“(2) The Department of Veterans Affairs Loan Guaranty Revolving Fund, as established by section 3724 of such title (as such section was in effect on the day before the effective date of this title).
“(3) The Guaranty and Indemnity Fund, as established by section 3725 of such title (as such section was in effect on the day before the effective date of this title).”
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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